Philips Margin Goals Disappoint

Shares Fall After Dutch Firm Issues Guidance

AMSTERDAM—Shares in Royal Philips NV fell Tuesday as the Dutch electronics and health-care company's financial goals for the next three years fell short of expectations.

Philips, in an announcement made before a capital markets day in London, said it aims to further improve operating margins by 1 to 2 percentage points and grow sales by an average of 4% to 6% in the period up to the end of 2016. It also said it would buy back €1.5...